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National Association of Realtors Pending Home Sales for July 2016:
- The index rose 1.3 percent to 111.3 in July from a downwardly revised 109.9 in June.
- This represents 1.4 percent growth year-over-year. (July 2015’s reading was 109.8.)
- All the major regions saw a slight increase in pending home sales, save the Midwest.
Ten-X Residential Real Estate ‘Nowcast’ for August 2016:
- The “Nowcast” projects existing home sales to stabilize in August.
- The “Nowcast” predicts existing home sales to fall between seasonally adjusted annual rates of 5.35 and 5.71 million.
- This is a 2.5 percent increase from July and a 4.1 year-over-year increase.
First American Financial Corporation’s July 2016 Loan Application Defect Index:
- The First American Loan Application Defect Index decreased 2.8 percent in July as compared with June.
- The index decreased 16.7 percent as compared with July 2015.
- The index is down 31.4 percent from the high point of risk in October 2013.
Freddie Mac’s Multi-Indicator Market Index (MiMi) for June 2016:
- This month, the MiMi was 85.0.
- This is up 0.08 percent month-over-month.
- Year-over-year, the MiMi is up 5.76 percent.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Most recent market news:
S&P/Case-Shiller Home Price Indices for June 2016:
- The home price index rose by 5.1 percent from June 2015 to June 2016.
- This year-over-year price gain is unchanged from last month.
- Month-over-month, the index rose 1.0 percent (unadjusted).
Federal Finance Housing Agency’s mortgage rates for July 2016:
- The national average contract mortgage rate for previously occupied homes by combined lenders was 3.62 percent for loans closed in late July.
- The average interest rate on all mortgage loans was 3.63 percent.
- The average loan amount was $325,700, down from $333,900 in June.
Email market reports to press@inman.com.